AMENDMENT

Rules Committee · 2026-04-20 · agenda_item

The City of Jacksonville Rules Committee is reviewing a proposed amendment to the city's budget code. This amendment would change how operating reserves are calculated and used. Specifically, it aims to include a specific dollar amount of $392,138,000 from the September 30, 2024, financial report as an operating reserve. It also proposes setting a minimum operating reserve level, which would be the higher of 17% of the General Fund budget or the $392,138,000 balance. The amendment would allow for funding previously approved financial incentives by using operating reserves above the current target. This item is currently under review. This process could eventually lead to work related to financial management and budget planning. Businesses involved in financial consulting, accounting, and legal services may find opportunities as this proposal moves forward. Early engagement could be beneficial before final decisions are made.

operating reserves

392,138,000 $

operating reserve floor percentage

17 %

operating reserve balance date

September 30, 2024

current operating reserve target percentage

7 %